UK VAT Sales Register is an excel template to maintain the records of your sales during a specific period along with details of Output VAT collected on the sales.
A sales register records sales and sales return to all customers of a business. It is also known as sales ledger. Usually, we record sales transactions. But in this register, we record transactions showing VAT computation.
The VAT on sales of goods or services which a business collects is the Output Tax. Whenever you make any sales, you are entitled to collect VAT on the goods or services you supply.
According to the Record Keeping for VAT Notice 700/21, it is mandatory for the businesses to keep all your business records.
You will require this output tax figure at end of every tax period to calculate the VAT payable amount.
We have create a simple and easy UK VAT Sales Register Excel Template with predefine formulas and formatting. You can easily record your VAT sales as well as sales return transactions. This template auto-calculates the VAT amount for given taxable value.
Contents of UK VAT Sales Register Excel Template
Sales Ledger or Sales register consists of 2 sections: Header Section and Sales Transaction Section.
The header section consists of headings which include the company name, logo, and your VAT number.
This is a monthly sales report. You can record up to 100 transactions in this. Select the month from the dropdown list and enter respective year.
Sales Transaction Section
In Sales Transaction section, you need to record your sales and sales return transaction. It consists of following columns:
Serial Number: Serial number is auto-generate hence you don’t need to make any entry in this column.
Invoice No: Insert sales invoice or credit note number.
Invoice Date: Enter date of the invoice.
Customer Name: Enter name of your client/customer.
Customer’s VAT No: Insert respective VAT number of your client/customer.
Taxable Amount: Enter taxable amount of the invoice in this column.
VAT %: Select VAT % from the dropdown list whichever is applicable 20%, 5%, or 0%.
VAT Amount: This column consists of a predefined formula and hence requires no entry. The VAT amount is calculate using following formula: Taxable Amount X VAT %.
If you have multiple tax supplies in one invoice, insert entries separately against the same invoice number.
Final Invoice Amount: Similar to previous column, this column also consists of predefine formula. Final Invoice Amount = Taxable Value + VAT Amount.
At the end of entry section, final column totals are given. The first one is the taxable value, the second one is the Total Output Tax, and the third one is the total sales amount including VAT.
There is a provision to enter up to 100 invoices in the template. If you have more than 100 invoices, you can insert additional row as well. To maintain records for a longer time, either make a copy of this sheet and you can use it for other tax periods.
This template is useful to small and medium-sized businesses that don’t use any software for record-keeping.